444 By Susan Ariel Aaronson and David Deese With a reaction by ...

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Global-500.pdf and http://www.ipieca.org/activities/social/downloads/workshops/apr_08/p2_-_jflood_-_human_rights_tools_for_the_o&g_industry_1350.09375.pdf; and www.humanrightsbusiness.org.171 Look up oil companies on the businesshumanrights.org web site and follow the multiple articles/links.http://www.business-humanrights.org/Search/SearchResults?SearchableText=oil+companies&x=0&y=0172 Michael Wright and Amy Lehr, “Business Recognition of Human Rights: Global Patterns, Regionaland Sectoral Variations: A Study Conducted under the Direction of John G. Ruggie, Harvard University, “12 December 2006, http://www.reports-and-materials.org/Business-Recognition-of-Human-Rights-12-Dec-2006.pdf.173Human Rights Council, “Protect, Respect and Remedy: a Framework for Business and Human Rights,:Report of the Special Representative of the Secretary General on the Issue of Human Rights andTransnational Corporations and other business Enterprises, John Ruggie,” A/HRC/8/5, 7 April, 2008;http://www.reports-and-materials.org/Ruggie-report-7-Apr-2008.pdf.174 Oil windfalls can push up the real exchange rate of a country’s currency, rendering non-oil exportsrelatively uncompetitive. That can lead to “Dutch disease.” As these sectors languish, the economy maybecome ever more dependent on oil.175 Catholic Relief Services, “Bottom of the Barrel,” Open Society Justice Initiative, Legal Remedies forthe Resource Curse,” 8/6/2005, http://www.justiceinitiative.org/db/resource2?res_id=102966; andMarcartan Humphreys, Jeffrey D. Sachs and Joseph E. Stiglitz, Eds. Escaping the Resource Curse, (N.Y.Columbia U. Press, 2007), p. 4. Kazakhstan provides a good example of this dilemma. On August 19, 2007,the ruling party of President Nursultan Nazarbayev said it had won 88% of the vote. AntonTroianovski,"Ruling Party Sweeps Kazakhstan Election, Official Count Shows,” Washington Post,8/20/2007.176 Humphreys et al. Escaping, 11-12; Terry Lynn Karl, The Paradox of Plenty: Oil Booms and Petro-States, (Berkeley, California: 1997). She examined Venezuela, Iran, Nigeria, Algeria, and Indonesia. Alsosee Michael Ross, “Does Oil Hinder Democracy?” World Politics , 53, (April 2001), 325-361; and RichardM. Auty, and Alan G. Gelb, “Political Economy of Resource Abundant States,” in Richard M. Auty, ed.Resource Abundance and Economic Development (Oxford, Oxford University Press, 2001, 126-144.479
177 Paul Collier and Anke Hoeffler, “Greed and Grievance in Civil War,” Working Paper 2002-18,4/16/2000; Macartan Humphreys, “National Resources, Conflict and Conflict Resolution: Uncovering theMechanisms,” Journal of Conflict Resolution (2005) 49, No. 4: 508-537; and James D. Fearon, “PrimaryCommodities Exports and Civil War, Journal of Conflict Resolution (2005) 49, No. 4: 483-507. For otherpapers on this topic, seehttp://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTRESEARCH/EXTPROGRAMS/EXTCONFLICT/0,,contentMDK:20985555~menuPK:2729821~pagePK:64168182~piPK:64168060~theSitePK:477960,00.html; andhttp://econ.worldbank.org/WBSITE/EXTERNAL/EXTDEC/EXTRESEARCH/EXTPROGRAMS/EXTCONFLICT/0,,contentMDK:21315494~pagePK:64168182~piPK:64168060~theSitePK:477960,00.html178 Susan Ariel Aaronson, “Is EITI an Answer to the Resource Curse,” revised for Ethics and InternationalAffairs. copy in possession of author; and Susan Ariel Aaronson, “Oil in the Public Interest,” Vox/EU,http://www.voxeu.org/index.php?q=node/1395.179 http://eitransparency.org/node/218, last searched 7 January 2008.180 Save the Children, U.K. “Beyond the Rhetoric: Measuring Revenue Transparency-CompanyPerformance in the Oil and Gas Industries,” and “Beyond the Rhetoric: Measuring Revenue Transparency-Home Government Requirements for Disclosure in the Oil and Gas Industries,” March 2005,http://www.publishwhatyoupay.org/measuring_transparency/pdf/homegovts.pdf.181 Canadian companies had the best results because in 2005 it was the only country that required countrylevel disclosure. As of June 2008, Norway also requires such disclosure. In May 2008, US CongressmanBarney Frank put forward H.R. 6066, the Extractive Industries Transparency Disclosure(EITD) Act, that would require publicly listed companies to report any payments made to governments toextract resources. http://www.publishwhatyoupay.org/english/pdf/releases/pwyp_usa_release_frank.pdf.The European Parliament also called for country-b6 country disclosure of revenue payments.182 Save the Children, U.K. “Beyond the Rhetoric,”http://www.publishwhatyoupay.org/measuring_transparency/pdf/homegovts.pdf.183 Transparency International, “Frequently Asked Questions: Promoting Revenue Transparency Project,”www.Transparency.org/revenue_transparenc; and .Transparency International.2008. “Promoting Revenue480
Page 1 and 2: LAGGARDS ON RESPONSIBILITY: THE OIL
Page 3: Caveats on Firms as StakeholdersWe
Page 6 and 7: Energy and Security: Ensuring An Ad
Page 8 and 9: Jafee, “if a company is not repla
Page 10 and 11: Investor Responsibility Research Ce
Page 12 and 13: alternative energy research and dev
Page 14 and 15: Shell and the other oil companies o
Page 16 and 17: how they must act to ensure respect
Page 18 and 19: oppose a government’s policies an
Page 20 and 21: The researchers found 23 of 25 comp
Page 22 and 23: EITI. As noted above, EITI does not
Page 24 and 25: We conclude with the observation wi
Page 26 and 27: interest in the sustained financial
Page 28 and 29: The argument about energy conservat
Page 30 and 31: Principles were during the days of
Page 32 and 33: hard to imagine that better efficie
Page 34 and 35: 148 International Association of Oi
Page 38: Transparency: 2008 Report on Revenu

444 By Susan Ariel Aaronson and David Deese With a reaction by ...

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